The Exporter Issue 7 - Services Unplugged

Iss u e # 7

Can CARICOM Afford to Miss the WTO E-Commerce Train?

Driving the New Barbados Economy

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The Business of Film

12 03 20

Services “Unplugged” www.bcsi.org.bb

The Trade in Services Magazine of the BCSI

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Where overseas markets are large and 1. Re-investing in education and skills. local markets small; where a country is Since our first budget last year, this physically a long way from the main markets

government has returned to an idea that

and, as China, India and East Africa grow,

Barbados and Barbadians have known

getting farther away; when you want a high-

and seen for some time: investments in

wage economy based on value-added products

education create a platform for inclusive

rather than commodity products, there are few

growth. Our return to free tertiary education

options for growth and prosperity. There are

and intention to establish a category of

few alternatives for an outward orientation.

Master Teachers paid at an appropriate

Being a competitive producer and exporter of

level in order to keep good teachers are not

“weightless” products, like professional services,

luxuries: they are key investments.

Driving the New Barbados Economy

down a broadband connection, becomes central to future economic success, not just a part of it.

Experience in other regions has suggested that even in an adjustment, cutting education

Today, I would like to say a few words about how

budgets to lower taxes or realize savings is a

we are going to deliver that.

fool’s errand.

The New Barbados Development Model

There are no higher investment returns to be

At the center of this Government’s growth

had from investments in public education

strategy is people. Its objective is to so invest

and public health.

in people and communities that everyone develops what it takes to choose and live

While the average return in the international

the life they value, where the circumstances

equity markets is around 7.5%, returns to

of one’s birth do not remove her/his choices,

education are estimated at over 17% for

where people achieve real, lasting economic

primary education falling to 11% for tertiary

security and inter-generational well-being.

education. And the word “public” here is

HON. Marsha CaddlE M.P Minister in the Ministry of Economic Affairs and Investment in Barbados

important. Delivering health and education, That means making seven critical investments

universally, to the whole community, through

in our future:

the community, together, is what gives these

1. Re-investing in education and skills.

investments their power.

2. Re-investing in public health.

3. Re-investing in green infrastructure

Sustainable growth, not flash-in-a-pan growth,

4. Re-inventing Government

not some windfall –from-the-discovery-of-

5. Resetting fiscal policy

oil growth, comes from citizens being able

6. Reforming our financial system

to command higher incomes by raising the

7. Re-engaging with Caricom

quality of their output.

These investments will deliver rich returns.

We have to make sure that our expenditure on education and training is well-spent and on the

contributor profile Marsha Caddle is an economist, Member of Parliament and Minister in the Ministry of Economic Affairs and Investment in Barbados. Her specialties in Economics are financing for development, macrofiscal governance, and inequality, social protection and labour. Prior to joining the Cabinet of Barbados, Ms. Caddle worked as Governance Specialist with the Caribbean Development Bank, and Programme Manager with the United Nations Development Programme (UNDP).

She was also Programme Specialist, Economic Security and Rights with the then United Nations Development Fund for Women (UNIFEM).

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right things, and at perhaps no other time has it been clearer

investing in infrastructure, and in particular in sewage systems

that sweeping education reform is required for Barbados to and roads. The costs of not doing so, whether counted truly step into the third decade of the 21st century, but that in the lost business of a south coast hotel or restaurant, investment is fundamental to our growth policy.

permanently turned off tourists, slower journeys or countless punctured tyres, have been truly significant.

A critical component of the competitiveness of Barbados service providers is the skill and health level of their employees.

In the old days, you needed land, labour, and capital to run a

If service providers have to spend significant sums bringing business. Now you need broadband. Fast and inexpensive expats with skills to Barbados or retraining employees at their broadband is critical to opening Barbados to business. And expense they lose serious competitiveness.

if we are emailing products rather than shipping them, the eastward shift in Global GDP from America to Africa and

That is why alongside the BERT program we are investing

Asia will not have an adverse impact on our prospects.

in the most significant national training initiative in our history. And why we are buttressing it with individual efforts

Our infrastructure investments must be sustainable and

for those groups of the population with unique challenges. make us more resilient to a future in which climate disasters Like our First Jobs Initiative for those who have never

become more frequent. We are committed to transitioning

worked before, or facilitating more workplace crèches to

Barbados to be the first green, 100% renewable and

help women return to work as soon as they are ready after

carbon neutral island by 2030. We are on the cusp of an

having a child.

energy revolution that will see a dramatic shift away from foreign exchange hungry fossil fuels, to locally produced

Governing is about choices. We choose to not waver from the solar, biogas and other renewables. To achieve this goal, idea that the advancement of all of our people should not be we have revised the National Energy Policy, prepared an determined by whether or not your parents can afford it.

Implementation Plan and Road Map, are helping to match local ideas and resources with investment, including

2. Re-investing in public health

through the establishment of dedicated funds for the

Falling ill and being unable to afford to get better and return

development of renewable energy technologies, and have

to work is one of the most common reasons that people made provisions in a new Planning and Development Act slide into poverty, and why we are choosing to provide and Physical Development Plan for expected increases in universal health care and to ring-fence health expenditures

RE-related development.

from cuts. We are spending more on the Accident and Emergency wing of the Q&E Hospital and in the more

4. Re-inventing Government

extended opening hours of polyclinics.

As the Government gets its fiscal house in order, we can no longer be a direct driver of growth. The source of

One of the essential benefits of universal health care that growth has to shift from Government to the private sector. helps to support its price tag is that it positively supports

That is why a critical path of our growth strategy is to

the competitiveness of Barbadian firms. If a significant recover growth that is currently being lost by Government amount of time is lost to sick leave and if health care costs

bureaucracy and restrictive practices.

are high, competitiveness suffers.

And it is a lot of lost growth.

3. Reinvesting in infrastructure Barbadians do not need reminding of the importance of Last year the World Bank Doing Business Report ranked

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Barbados at a regrettable 129th out of 190 countries. The digital transformation of the Government will save These are the kind of numbers that sent a message to the

individuals and companies days waiting in government

rest of the world that we were not serious about being a offices. If this meant that every person spent two days less place to do business. As crucial as these global measures time in a queue, it would effortlessly push up GDP by 1%. are, the truth is that even without that Report, anyone who We are looking to outsource the management of CAIPO has tried to start a business in the last ten years knows to a professional team that can guarantee efficiency and the pain of Government bureaucracy and process. The timeliness in the registering of new businesses. We will confidence of investors is sapped by a system that is slow establish a self-financing Commercial court before the and stultifying. The system banishes enthusiasm. It sends middle of this year to speed up adjudication and judgment away entrepreneurs and investors for good. In the process,

by the courts. We will also introduce new forms of

we lose investment, jobs, and growth.

legislation to deal with arbitration and alternative dispute resolution in our society.

We have in our reform efforts returned to first principles: we have begun to look carefully at why we do what we

These reforms are part of a new thrust towards global

do and ask what we ask. We have begun to re-engineer

competitiveness. We are identifying one by one, indicator by

the process of getting Government permits, and in fact to indicator, process by process, department by department, reinvent Government.

the obstacles to competitiveness, and are establishing a Doing Business Sub-Committee of Cabinet supported by a

The new Planning and Development Act is now driven by a Competitiveness Council as a sub-Committee of the Social disposition to support development speedily, transparently, Partnership to drive that work. predictably and to provide pathways, where possible and legal, to the approval of applications that are at first denied.

5. Resetting fiscal policy In the space of 10 months we have lowered our personal

The Act further uses planning gains, especially those and corporation income taxes to the lowest, not just in our related to major developments, to add value in the areas of history, and in the region, but in the world. But we are in improved housing conditions, training, employment and a program of debt reduction. The taxes we have cut have other community benefits. And new arrangements for been funded by taxes that have gone up. A significant part administration of the Act reduce the scope for discretionary of those higher taxes fall on tourists and non-residents, but decision-making in the hands of a single individual.

some will be paying higher land taxes.

Another powerful tool to reinvent Government is technology.

Different taxes have different effects on behavior. Income taxes are a tax on labour that discourages work and

We are using technology to improve the quality and speed

productivity. Land taxes are a tax on assets that encourage

of the delivery of services. Citizens will be able to pay for people to use the asset. The new mix promotes productivity licenses, services, fines, tickets, and taxes online. The

and investment. And we are doing it while trying at all times

government will be able to pay for its supplies online. We

to protect those with low incomes or small landowners.

can contemplate the elimination of cheques within two This is a good policy mix. It supports our recovery and our years. Technology can allow the quick and easy clearing of competitiveness. customs, town and country applications, obtaining policy certificates of good character.

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6. Reforming our financial system

Fourth, the FSC will work with the Barbados Stock

The growth and development challenge for nations as well as Exchange to create an Innovation and Growth Market for and small and medium-sized companies is how to find capital.

small or start-up companies with a capitalisation of greater than $200,000, with at least 30% of ownership available

Barbados is not short of capital. There are $9bn of domestic

to investors. We see this as the critical platform that will

savings currently sitting on bank deposits earning 0.1%

enable Barbadian entrepreneurs to tap into the $9 billion

interest. Our growth and development challenge is how to of savings lying dormant in the banking system, while still mobilise these savings for domestic investment.

being able to retain control of their business.

We are pursuing five initiatives to mobilise domestic savings and support the spread of ownership of assets

Fifth, the Government will develop a program for using the

to ordinary Barbadians in a programme of economic local stock market to spread ownership of Government enfranchisement.

assets, through the sale of its stakes in businesses like the Hilton and Sam Lords to ordinary citizens.

We will create regulatory regimes to develop new types of investment funds centered on small investors, such

7. Re-engaging with Caricom

as digital platforms for crowd-financing and peer-to-peer Barbados needs to be competitive at the global level. But lending. On a crowd-financing platform, small investors

the reality is that it is hard for small enterprises to break

invest equity in new projects. In peer-to-peer lending, into the supply chains of large enterprises in the largest small investors lend collectively to borrowers. Unlike in the

countries.

past, when only banks were presented with investment opportunities and the people were asked to provide funding Large companies use their market power to shift as many at 0.1%, we will ensure that all Barbadians can participate risks as possible to their suppliers, who have to provide as investors if they choose.

credit, satisfy high market standards and more.

We will support the development of a regulatory regime

It is easier instead for a small Caribbean producer to

for Green Energy Bonds. These are a new type of sell into a small chain of distributors than to break into financial instrument that will allow those who cannot use

Walmart or Waitrose. And easier still if those distributors

renewable energies themselves, to get renewable energy

were regional. It is, therefore, an important stepping stone

credits for investing in renewable energy projects. We

to global competitiveness, to an outward orientation, to

want to encourage others to develop innovative financial encourage the development of regional supply chains. instruments linked to renewable energy. We will have an open, encouraging stance. We can become a global hub In this model, Guyana, Suriname, Belize stand to contribute for solar-power financing instruments.

core inputs of land, labour and skills in agricultural process and technology, with regional centres of finance and

To help mobilise domestic savings for investment, the management emerging in other islands. The principal Government will facilitate the creation of a National Unit obstacles to this developing are cheaper, more frequent Trust, modeled on the Unit Trust of Trinidad and Tobago and reliable regional transport arrangements, and fewer with professional investors, investing in primarily local regulatory hurdles for capital to flow across the region. projects. Individuals and the credit unions are likely to be a

There is nothing new here, but better technologies and

significant investor in these unit trusts.

renewed leadership by Barbados on CSME make it more

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likely than we will see greater economic integration within Caricom.

Conclusion Over the past ten months, Barbadians have seized their fate. We have taken the tough decisions that have saved our dollar, rescued our credit rating and stopped the rot.

We have stabilized the patient.

We had never plumbed such depths before: the third highest debt ratio in the world, the third lowest credit rating. The journey back could not be short nor easy.

It is only achievable because it has been shared. This has been the most shared economic adjustment program in history and shared across debtors and creditors, workers and taxpayers, tourists and residents.

Today, we remain in choppy waters; we are not out of the deep yet but, we are coming ashore. We can now be assured as we begin to turn from recovery towards transformation, that there is a future Barbados, one that is prosperous and successful, where people lead the lives they value.

At the centre of that future economy, lies Barbadian service providers. Providers are offering high-value products delivered to the world by highly paid employees through a fast, inexpensive broadband connection.

A future that rests on the best education, health care and green infrastructure, supported by a re-engineered Government, right fiscal incentives, intense regional trade, and a diverse and inclusive financial sector.

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This is a future we are investing in today, a tomorrow we build together.

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We at the Barbados Coalition of Service Industries (BCSI) are delighted to bring to you this 7th edition of the EXPORTER magazine.

The focus of this edition is on how we as a country can advance a world-class economy built around the expansion of the services sector.

Barbados, like most of the English-speaking Caribbean is heavily dependent on services for the growth and development of its economy and people.

The last official study conducted by the BCSI on the sector in 2013 highlighted the fact that, services remain the most important component of the Barbadian economy amounting to Bd$5.5 billion and contributing approximately 80% of the Gross Domestic Product (GDP). Services also accounted for 94,700 jobs which represented approximately 74% of all persons employed at the time of the study. Yet, a gap remains between the reported figures and the true value and volume of the services trade within the economy. In part, because there are elements of the informal services economy which remain below the radar and off the books and are therefore not reflected in the official statistics on trade in services.

In addition, there are service elements to the production of goods, for example; financial services, branding and marketing support as well as ICT enhancements which create value-added to the production process, but which are often excluded from the statistics

on services. That is one of the reasons we are pleased to be partnering with the Barbados Manufacturers Association (BMA) in planning and producing BMEX 2019 to bring attention to the link that exists between services and the production of goods.

EDITOR’s notes

Through this partnership we will be creating the historic ‘Firefly Village’ – which is a select space for showcasing cultural services at the exhibition. ‘Firefly’ is a BCSI brand focused on the cultural and creative industries, particularly the performing arts, visual arts and fashion. We look forward to the growth and sustainability of this partnership with the BMA in the years ahead.

In this edition of the EXPORTER we are honoured to feature the Hon. Marsha Caddle, Minister in the Ministry of Economic Affairs and Investment, who in addition to providing some stimulating insights on how her government and ministry intend to drive a new economy for Barbados into the future, has also agreed to be featured on the Cover page of the magazine. We also welcome an international perspective on ‘Services and The New Economy’ by Professor Carlos Braga who is a Professor of International Political Economy and Director of the Evian Group at IMD, which is an international coalition of corporate, government and opinion leaders who are united by a common vision of enhancing global prosperity by fostering an open, inclusive and equitable global market economy.

Dr. Jan Yves Remy, Deputy Director of the Shridath Ramphal Centre in partnership with

GRAHAM CLARKE

Graham Clarke is a Chartered Marketer and Current Executive Director of BCSI

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Ms. Alicia Nicholls deal with the question of whether Caricom can afford to miss the World Trade Organization (WTO) train. There is also an interesting and inspiring Q & A with Riddim Tribe and a few excerpts by Lorna Garner and Michelle Doyle, on the recent Business of Film Course which was conducted at the BCSI in partnership with the Barbados Cultural Development Authority (BCIDA). Finally, we profile two organizations. Firstly, the regional company NPI Communications, who was recently recognized by Caribbean Export for their excellence in Service Exports as well as The Creative MakeUp & Aesthetics Academy.

We trust that you will enjoy this edition of the magazine as much as we have enjoyed producing it, and we look forward to your ongoing support and suggestions as we work together to reposition the services sector in Barbados and create a sustainable economy and way of life for our people that is driven by the growth of services.

ENJOY!

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Contents Services: Advancing a World Class Economy 03 Driving the New Barbados Economy 12 Can Caricom Afford to Miss the WTO E-commerce Train?

17 Services and the New Economy 20 The Business of Film 23 Capitalising on Deglobalisation 46 Private Sector Perspecives on the New Economy Company Profiles: 29 FIREFLY AT BMEX: Creative Village Crew 33 NPI Communications 35 Creative Makeup & Aesthetics Academy 38 Sweetfield Manor In-House News: 42 Memorandum of Understanding with The Barbados Manufacturing Association 44 Firefly Creative Village Members Corner: 52 Fishbowl Conversation Series 54 Benefits of the EPA 55 Feel de Riddim: Riddim Tribe Feature

Cover Photography: Charissa Cheong-Seward

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Services “UNPLUGGED”

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Can CARICOM Afford to Miss the WTO E-Commerce Train?

On the sidelines of this year’s World Economic Forum meeting in January at Davos, Switzerland, 76 Members of the World Trade

Organization (WTO) expressed their intention to begin WTO negotiations on electronic commerce (e-commerce). Making up less than half of the WTO’s overall membership, these willing Members entreated other Members to join them in negotiating rules aimed at facilitating the use of e-commerce in trade.

All independent CARICOM Member States, with the exception of the Bahamas – which is presently acceding to the WTO – are WTO Members and therefore eligible to join these negotiations. However, so far none has done so. Given the potential of e-commerce for their development, should CARICOM Member States reconsider their cautionary stance?

Growing importance of e-commerce to global trade.

Dr. Jan Yves Remy & Alicia Nicholls

E-commerce, also referred to as “digital trade”, has been defined as “the production, distribution, marketing, sale and delivery of goods and services through electronic and digital means”. In its World Trade Report 2018, the WTO noted that digital technologies – such as artificial intelligence,

contributor profiles Dr Jan Yves Remy is the Deputy Director of the University of the West Indies, Cave Hill’s Shridath Ramphal Centre for International Trade Law, Policy & Services.

Alicia Nicholls is an international trade and development consultant and a contributing author to the UWI SRC’s Trading Thoughts column.

blockchain, the Internet of Things and 3-D printing – are reducing trade costs and revolutionizing the structure and patterns of global trade flows.

The United Nations Conference on Trade and Development (UNCTAD) estimated the global e-commerce market to be around US $22.1 trillion in 2015.

The WTO Report and numerous studies highlight the potential of e-commerce to catalyse economic transformation in developing countries by lowering trade costs, increasing market access opportunities for Micro, Small and Medium-Sized Enterprises and individual entrepreneurs, improving logistics, and widening consumer choice. Challenges, however, continue to plague the use of these technologies, including inadequate supportive policies, technology diffusion and regulation.

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While

more

modern

regional

trade

temporary moratorium on the application of

agreements – like the US-Mexico-Canada

customs duties on electronic transmissions

Agreement and even the CARIFORUM-EU

and the formulation of a working definition of

Economic Partnership Agreement – include

e-commerce.

comprehensive digital trade chapters, the WTO, which was negotiated in 1995, still

Although the negotiation of a multilateral

does not contain a multilateral agreement

agreement or rules among all 164 WTO

dealing

e-commerce.

Members would be ideal, consensus among

Instead, separate disciplines affecting digital

all Members has been difficult to achieve.

trade in goods and services can be found in

This is in large part due to developing

the WTO’s General Agreement on Trade in

countries’ objections to what they consider

Services, the General Agreement on Tariffs

to be ambitious proposals being pushed

and Trade, the Agreement on Trade-Related

by developed countries. On the one hand,

Aspects of Intellectual Property Rights,

WTO developing countries, led by India and

and more recently, the Trade Facilitation

the African Group of countries, support

Agreement.

completion of the more limited mandate

holistically

with

The multilateral route: The WTO Declaration and Work Programme on E-Commerce Multilateral discussions on e-commerce involving all WTO Members were launched in 1998 through the adoption of a Declaration on Global Electronic Commerce, and a Work Programme to examine trade-related issues related to global electronic commerce. The Work Programme has been continuously

under the 1998 Work Programme framework.

On the other hand, developed countries, such as the US and the European Union, advocate moving beyond mere discussions to actual negotiations to formulate rules aimed at increasing e-commerce opportunities in the twenty-first century. Where CARICOM stands is unclear as no CARICOM government has to date tabled a proposal on e-commerce at the WTO.

the Buenos Aires Ministerial Conference

The plurilateral route: Joint Statements on Electronic Commerce at Buenos Aires and at Davos.

in 2017.

Under that Work Programme,

Without an official WTO mandate to proceed

the WTO’s main committees have been

with multilateral negotiations, some WTO

reviewing progress on discussions, with

Members have begun negotiations on a

general oversight provided by the WTO’s

plurilateral basis, that is, without all WTO

General Council. Despite fits of activity, and

Members but among a subset of willing

some proposals by select countries, not

ones.

much has yet been accomplished beyond a

when 71 Members signed a Joint Statement

updated

at

most

WTO

Ministerial

Conferences since 1998, the last one being

The plurilateral discussions began

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on E-Commerce in Buenos Aires in 2017,

such fears, it might be worth considering

and was extended at Davos in January this

the approach to special and differential

year, when five more countries, including

treatment taken in the Trade Facilitation

China, agreed to join the plurilaterals.

Agreement,

another

WTO

plurilateral

agreement, where implementation is tied In their Joint Statement at Davos, the

to a country’s capacity and the degree of

76 signatories agreed, inter alia, to

technical assistance provided.

achieve “a high standard outcome that builds on existing WTO agreements and

Secondly, some CARICOM countries may

frameworks with the participation of as

fear that participation in these negotiations

many WTO members as possible”. The

will restrict their policy space, particularly

willing countries also agreed to “recognize

their ability to regulate online traffic and

and [to] take into account the unique

cross border data flows, and attendant

opportunities and challenges faced by

issues like data privacy and cybersecurity.

members, including developing countries

They might also be wary of the revenue

and Least Developed Countries (LDCs),

implications of agreeing to the proposed

as well as by micro, small and medium

permanent moratorium on the imposition of

sized enterprises, in relation to electronic

customs duties on electronic transmissions.

commerce”.

Should CARICOM countries participate in plurilateral negotiations?

A third possible red flag for CARICOM may be the reluctance of other developing countries in joining the negotiations. While

As with the multilateral e-commerce

China joined at the last minute, others like

negotiations, CARICOM countries have

India and the African Group countries have

remained silent on whether they have

adamantly declined, preferring to focus

an appetite for joining the plurilateral

attention on the multilateral discussions.

e-commerce negotiations. A number of

These countries argue that e-commerce is

factors could account for their apparent

monopolised by multinational corporations

hesitation.

and that gains from e-commerce will not be realized for developing countries if they

Firstly,

CARICOM

countries

may

be

concerned about their capacity to engage

are required to cede their regulatory and policy space.

in negotiations on an area of trade which is still relatively new and evolving, and their

Without a critical mass of developing

subsequent ability to implement in a timely

countries involved in the negotiations,

manner any obligations undertaken. To allay

CARICOM

countries’

ability

to

form

coalitions with perceived “like-minded”

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countries may be circumscribed. That said, e-commerce is an area in which CARICOM countries have offensive interests given the predominance of services in their economies.

It may well be that new coalitions will have to be built on the basis of a new alignment of interests.

Issues for Consideration Given the importance of digital technology in global commerce, missing the e-commerce train at the WTO may not be in CARICOM’s best development interests. But CARICOM countries would be ill-advised to pursue a strategy to negotiations that ignores the following considerations.

Firstly, a negotiating strategy must be predicated on a sound digital trade policy that is informed by: data analysis of current patterns, scope and scale of e-commerce in the region; a clear-sighted appreciation of how e-commerce can promote the region’s overall economic transformation; and solid regulatory frameworks and infrastructure. Some studies, including one commissioned by UNCTAD on e-commerce legislation in Caribbean countries, already exist.

Secondly, both the digital trade policy and the subsequent negotiating strategy will require the input and feedback of key stakeholders, including the private sector and regulators which will be tasked with administering any rules, and consumer bodies. Canada, which is one of the Joint Statement signatories, has already launched stakeholder consultations.

Thirdly, CARICOM countries must be tactical. They should consider reaching out to other similar-minded developing countries to join the ongoing plurilaterals negotiations, and increase the visibility of issues that are unique to smaller developing countries.

What Next?

As CARICOM ponders its next move, negotiations on the plurilateral front are ramping up.

There is no agreement yet among those engaged in the plurilateral as to the legal structure any eventual agreement will take, nor as to its scope, but there is a willingness to move beyond the “exploratory” phase to actual negotiations. In fact, the first meeting of the plurilateral e-commerce negotiations is slated to take place on March 6.

That means that there is still an opportunity for all WTO Members to participate in these negotiations, and thereby influence their shape. The 70 plus signatories include the world’s largest trading economies which account for 90% of global trade. As the rules negotiated will

.

likely serve as the baseline for any future multilateral e-commerce deal, non-participation by developing countries would relegate them, once again, to the status of rule-takers. This is not an area in which CARICOM countries should leave their destinies in the hands of others.

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Services and The new economy

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Services and The new economy

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The world economy is going through major changes. In the aftermath of the global financial crisis the process of economic globalization lost dynamism. By 2016, global cross-border capital flows had declined roughly 65% vis-à-vis the peak (of US$12.4 trillion) reached in 2007. Foreign direct investment (FDI) flows also fluctuated significantly over the last few years and are still below the level achieved at the eve of the financial crisis. Trade in goods has also plateaued as a proportion of global GDP and in some years exports of goods increased below the expansion of world output.

These trends, however, do not hold in the case of services. Trade in services has not only increased as a share of global GDP, but also the services sector has become the main destination for FDI flows around the globe. The share of services in global trade is also increasing, reflecting the increased tradability of services in the digital era. Moreover, all over the world, but particularly in high-income economies, one observes the growing “servicification” of manufacturing activities, as services inputs embodied in the production process (e.g. R&D, design, and professional

Carlos A. Primo Braga

services), as well as services activities at the point of sale (e.g., financing, training, after-sales support), become increasingly important.

This trend towards the growing importance of the services sector in

contributor profile Carlos A. Primo Braga is currently an Adjunct Professor, Fundação Dom Cabral, Brazil and Managing Director, Ouchy ConsultoriaEmpresarial Ltda, São Paulo, Brazil. He is also a Visiting Professor at IMD, Switzerland. Over the period 2012-15, he was Professorof International Political Economy at IMD and Director of the Evian Group@IMD, an international coalition of corporate, government and opinion leaders, united by a common vision of enhancing global prosperity by fostering an open, inclusive and equitable global market economy.

the world economy is now entering a new phase. Throughout modern history one can identify waves of innovation that marked the beginning of a new era. These “waves” are typically associated with so-called general purpose technologies (GPTs) that had dramatic implications for wealth creation, income distribution, jobs and wages. The steam engine (the lever behind the first Industrial Revolution, 1760-1830), electrification (the lever behind the second Industrial Revolution, 18701914), and information and communication technologies (ICT, the levers behind the current digital age) had significant impacts on productivity, international trade, and the economic structure of nations. The next “wave” of GPTs is centered around artificial intelligence (AI) technologies.

It is difficult at this stage to estimate the impact that AI will have on the labor market. This GPT, however, will affect both manual labor and cognitive activities. Concerns about a “robocalypse” are popular in science-fiction and in Hollywood movies. The reality, however, is that

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disruptions will be driven mainly by software and digital platforms based on AI. Productivity impacts may be exponential, but these innovations will tend also to foster income inequality and job displacement. Some of the policy solutions being discussed include the adoption of universal basic income schemes and the reduction of work hours as mechanisms to reduce the social impact of AI. These policies may help, but they raise a series of challenges in terms of financing and how to implement a new social contract.

There is a policy, however, which has broad support among

one could argue that Barbados’ comparative advantage is based on exports of services,

researchers. This involves retraining the workforce with a view to explore new partnerships between humans and AI-based innovations. Such a strategy is inevitably services-intensive and it requires a rethinking of how education systems will adapt to this new world. A good example are the efforts of the Finnish government to train 1 percent of its population on the basics of AI. This effort is not designed to create a new generation of AI-software developers, but its aim is mainly to prepare Finland to the inevitable democratic debate on how to adjust to an AI-led economy.

For a country like Barbados, which is already a services-intensive economy, these discussions may look too esoteric for the population at large. Moreover, one could argue that Barbados’ comparative advantage is based on exports of services, like tourism, that have a strong human-veneer (a hotel receptionist, a bartender, ‌) and that are less likely to be affected by AI. The reality, however, is that in the AI-led economy, competitive advantage at the level of firms will be increasingly determined by the capacity of economic agents to work with these innovations.

By leveraging AI-based platforms, Barbados can, for example, brand itself as an ideal place for matching compassionate caregivers with the growing international demand generated by the aging population of industrialized countries. In short, service-

.

focused impact investments exploring generosity and volunteer activities will become an important source of dynamism in the AI-based era.

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Hon. John King, Minister of Creative Economy, Culture and Sports, second from left beside guest speaker Fiona Hinds at the closing ceremony. Photo credit Framerate Photography

The Business of Film

www.bcsi.org.bb

Education mandatory in the film business

Barbados has a pool of award-winning filmmakers making an impression on the international scene and given the potential of the emerging film industry, it is important that film production is balanced with business knowledge and activity. The cultural industries is set to become a main economic earner for Barbados and filmmakers are poised to tell their stories. The ability to sell, distribute and advertise Barbadian films to the international market requires specific training, so it is not surprising that a course entitled ‘The Business of Film’ was fully booked within 72 hours of its announcement.

The two-month intensive course was designed to educate not only filmmakers, but also those in business, administration or commerce who have a creative interest and want to utilize these skills in the film industry.

Conceptualised by Lorna Garner, a former international film distributor with over 20 years experience in the field, the course exposed participants to the potential opportunities in the filmmaking industry beyond Barbados’ shores, without the need to relocate. Barbadians possess the

Michelle Doyle & Lorna GARNER

talent required to succeed at an international level and locally produced films can receive more exposure, leading to more exports and increased income for filmmakers. This extends to all areas of filmmaking including script writing, the very basis of any movie or television show. With foreign broadcasters willing to pay for Barbadian productions (movies and tv

contributor profile “Michelle Doyle is the creative force behind It’s Michelle Doyle PR! a digital public relations consultancy. Having honed her skills in the UK at various high profile public and private organizations, she now operates in Barbados, gaining a reputation of being multi-skilled and extremely personable. She is passionate about the education of PR and acts as a PR Mentor to entrepreneurs and is a sought after PR Speaker. She is also the Marketing & PR Lead for the Barbados Independent Film Festival. She can be found on LinkedIn, Instagram and Facebook. “

shows) along with cinema buyers, many of whom are looking to new sources for talented filmmakers, this was the opportune time for a course like this.

Lorna Garner explained: “We have many great authors who have the potential to develop world class scripts. My goal is for filmmakers and the public to realize [that] there is money in film, not just the film producers, but the actors, writers, musicians and the crew. I am hoping film making can be exported and bring income into the country.”

To ensure this was possible, professionals were also invited as Guest Speakers to give special presentations in their respective fields. Case studies, anecdotes and solid examples were a major part of the course.

The presenters delved into the best ways to navigate the path to the distributors and negotiate deals for clients and filmmakers including copyright, music scores, basic law and accounting, areas pertinent to the

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Lorna Garner (middle) with guest speaker Lynette Eastmond second from right surrounded by participants

value system of film distribution. Along

thing is that it gives the nontraditional

with the theoretical aspect of the course, a

[players] of our country the opportunity to

practical element was included to provide

show what they can do, and to get support.

a real-life experience for participants. An

So, you guys have a wonderful opportunity

opportunity was opened for participants to

now to do what you do and get support.

prepare a film or drama project to pitch to

One thing I would ask of you – is do not

buyers and/or partners in Cannes, France

waste this opportunity. People like myself

during October 2019, to receive funding for

who would have been involved in the Arts

the entire project.

forever, I know what it is to be young and have no support, nowhere at all for your

The Hon. John A. King, Minister of Creative

aspirations as an artist. This is really your

Economy, Culture and Sports, who attended

time.”

the opening and closing ceremonies, encouraged participants not to waste any

The course was facilitated by the Barbados

opportunities that were afforded to them

Cultural Industries Development Authority

and to use their skills to create new job

(BCIDA) and the Barbados Coalition of

opportunities, not only for themselves, but

Service Industries (BCSI) and supported by

for others as well. This will create an influx

the Barbados Film and Video Association

of new resources to the Creative Economy

(BFVA). Funding for the creative industries

of Barbados.

can be found at www.cidabarbados.org/ cid-fund.

He stated: “It’s never a good thing when an economy is in a depression, but the good

.

www.bcsi.org.bb

Capitalising on DeglobaliSation

The world is in a state of deglobalisation. Deglobalisation is the process of diminishing integration between nations.

It is a natural process as globalisation has always gone in waves. This period of deglobalisation will hopefully not be as severe as previous episodes but it is a direct response to the all-powerful multinational firm. They are seen as ‘faceless and rootless’, ‘citizens of nowhere’, and most distressingly, ‘agents of inequality’.

The citizens of countries across the globe increasingly view the large multinational corporation as ‘evil’. Taking heed to their electorate, politicians are beginning to turn their countries inward. At the same time, the traditional advantages of the multinational firm are withering away. They no longer have a monopoly on innovation. Globalisation means that wages are rising in parts of the world where multinationals frequently took advantage of low-cost labour. We have lived for so long

Simon NaitrAm

in the shade of mega-corporations that it is difficult to imagine a world beyond them but imagine we must, and I am here to provide fuel for your imagination.

How do we take advantage of this enormous opportunity that

contributor profile

deglobalisation presents us? Economies of scale is the idea that as

Simon is an early-career researcher with a focus on public economics and macroeconmics. He has worked as an economist in both the public and private sector. Simon chose economics because he wants to make a real difference to the everyday lives of regular people. His blog entitled ‘We Should All Be Economists’ lives at www.simonnaitram.com.

you scale up your business, average costs will fall. Multinational firms typically require economies of scale in order to be competitive on the world market, but in a small country like Barbados, the only way to achieve economies of scale is through the world market, so we are left in a paradox: A Catch 22.

How else can we achieve the levels of productivity or cost reductions needed to tackle the world market?

I suggest to you that we can do so through economies of agglomeration.

Agglomeration refers to firms being located close to one another. That is, clustering. Now economies of agglomeration refer to the increase in productivity or reduction of costs that arise from the agglomeration of businesses. You may think of agglomeration as being important for firms that share resources, like a port or even the beach but the benefits of agglomeration go way beyond that, particularly for knowledge industries. Knowledge industries are those that not only produce knowledge, but also use knowledge.

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The

benefit

of

agglomeration

for

knowledge industries is not proximity to the final consumer: technology takes care of that. The benefit of agglomeration for knowledge industries is in the spill over of

At present in Barbados, it is very difficult for a person to simply have a great idea and be able to fund it without already having wealth or without knowing someone of wealth.

ideas, technology and even people. This is particularly important in a world where

Barbados has a missing market. We

some companies produce new knowledge

have billions of dollars sitting in savings

so that other firms can use it. Economies

accounts

of agglomeration are also known as

people with ideas, entrepreneurs and small

“external economies of scale” so you can

business owners complain about the

think of agglomeration as a cheat code for

inability to access serious funding. While

achieving economies of scale.

in 1990 banks lent 68% of our savings to

doing

nothing.

Meanwhile

businesses, in 2018, they lent only 28% of Evidence

shows

that

agglomeration

our savings to businesses.

enhances earnings in innovation and creative based occupations such as

The result is that Barbados has a severe

artists, engineers, finance and information

deficit of business investment. In the

technology. This is the high-skill, high-

rankings of invested business capital

wage knowledge economy our Prime

to GDP, Barbados is 143rd out of 168

Minister wants to achieve. However,

countries on the IMF’s list.

talk of a knowledge-based economy is premature. There are deeper structural

So how do we get money from savers to

problems we need to fix first, and one in

businesses? We need to create an entirely

particular stunts our progress.

new financial market. We need a revolution of financing. We need venture capitalists,

In a U.S. recent research by my favourite

private equity firms, angel investors, angel

economist Raj Chetty and others, it shows

groups and corporate investors. We need to

that the likelihood of a child becoming

create financial intermediaries that attract

an inventor is about 100 times higher

funds from investors seeking returns and

for children from rich families than for

channel them to small business which

children from poor families. Is it that rich

have the growth potential to generate

kids are smarter? Well, focusing only on

those returns and to create economic

the smartest children, children from rich

growth for the country. The Government’s

families are still twice as likely to become

new measures take an important step in

innovators as children from poor families.

this direction by creating new markets for

Chetty calls them “lost Einsteins”.

facilitating this process.

www.bcsi.org.bb

Crowdfunding is a particularly important means of getting start-ups off the ground. Not only does it come with the equity financing that entrepreneurs so desperately need, but also the knowledge that a host of investors believe in your product.

The new Innovation and Growth market of the Barbados Stock Exchange promises to be an excellent means of launching existing small businesses into the global market, allowing owners to retain a majority share while providing access to substantial funding opportunities.

Importantly, this new market would democratise business in Barbados. No longer would we be limited by our financial background. Only your imagination would constrain you. These are only the first steps toward a new funding model for small and medium enterprises and the government is only providing us with market. This is only a framework. We still need the emergence of the actors in this financial market: finance professionals,

.

investors and business all working toward the common goal of getting money from the savings accounts of the average Barbadian into the businesses of the average Barbadian.

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Company Profiles

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CREATIVE VILLAGE CREW

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talshari Created in 2017 by Taleah Prescod, Talshari went from being a thought to a brand with a mission to make women look effortlessly chic. Talshari provides urban, casual and formal wear. We take pride in making our customers feel confident, comfortable and of course chic.

cultured by zHané Cultured by Zhané is a handmade accessory brand based in Barbados, that specializes in statement pieces made with brightly coloured fabric and prints. These pieces are carefully made to suit each client’s personal style. Cultured by Zhané currently offers designs in the form of neckpieces, belts, earrings, headbands and bracelets. All the products are designed by Zhané Padmore (owner and creative director). Cultured by Zhané aims at providing quality products as well as quality service to all its customers and truly honouring them as “cultured” individuals of society.

KAYENAR DESIGNS Founded by Keiandra Rawlins and established in 2016, Kayenar Designs offers a range of ready to wear, as well as, custom made clothing for classy, chic women looking to slay on any given day. From swimwear to semi-formal, pants to dresses we cater to women of any age, for any size, for any occasion, focusing on bringing out the unique sunshine in everyone.

SATADAZE Satadaze offers timeless handmade resort and festival wear that gives you a luxurious and effortless look. The aim is to uplift and celebrate all women’s bodies with a piece for every occasion. The designs are intended to bring joy when worn and are inspired by the beautiful women, the tropical colours, the happiness and the relaxed atmosphere of island life in Barbados.

Satadaze offers swimwear, clothing, accessories as well as specializes in custom made designs. Satadaze is a brand created for women by a woman.

You can easily find Satadaze on Instagram or Facebook or email satadaze@gmail.com.

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ISLAND GIRLS DéCOR We provide cake toppers and personalized wall decor for the home or events such as birthday parties, weddings and photography shoots.

SHAWSART Shawsart Collection is a men’s clothing line based on paint to clothing & fabric mixing aesthetics which are primarily handmade luxury clothing pieces. Specializing in printed T-shirts, satin lined printed hoodies, silk and velvet du-rags, men’s beach wear, shorts & most recently, dad caps.

SASHA MEHTER

@HennabySashaMehter

Sasha Mehter, the artist behind “HennabySashaMehter”, is a Barbados-based professional henna artist with over five years of experience with henna body art.

She creates breathtaking work in both traditional and modern styles, specializing in clean lines and mirror image designs. The artist has provided henna for brides and weddings, parties of all sizes, photo shoots, private appointments and most recently editorial work as well as much more.

ANSUNI HALL

@shotbyansuni

Ansuni Hall is a 22-year-old self- taught, unconventional portrait and landscape photographer born and raised in Barbados. He enjoy using various aspects pulled together to achieve the perfect photo. His aim is to transfer positive moods that uplift and inspire individuals through the canvas of every image that I take. Time flies fast and photography allows me to take an instant out of time.

JUSTIN SMALL I’m a fine artist and my main area of focus is Pencil Portraiture, Photography and Abstract painting. I mostly drew and painted, but I started photography about two years ago when I was capturing photos for Magazines.

www.bcsi.org.bb

CREATIVE VILLAGE CREW

LYNCHY “Lynchy”, born Akeel Lynch is a vibrant newcomer to the Sweet Soca scene within Barbados. He considers himself to be a “young veteran” of the entertainment industry in Barbados, having been involved as a promoter within the Bajan Boyz Entertainment enterprise from the age of 18.

To date he has made contributions to the industry with hits such as MEDICINE and L.T.P (LIVE TO PARTY)

/Akeel Lynch @lynchy246

ayana John Ayana John is a Caribbean Award-winning recording Artiste, songwriter and performer hailing from Barbados, West Indies. Known for her slew of hit songs and unique vocal style supported by a wide 4-octave range, Ayana has 13 years of recording and performing experience under her belt as a headliner at The 02 Shepherd’s Bush Empire, London 2012, ‘Reggae on the Hill’, Barbados 20072009, ‘Nottingham Carnival’, Nottingham, England 2012, Tribute To Rihanna, 2009, MIDEM International Music Trade Show 2009, Cannes, France and South by Southwest 2011, St. Louis, Missouri.

DARIO WARD

/ayana.johnbb /ayanajohnlbe /AYANAJOHN /ayana.john /Dario ward

@sandmanward246

Dario Ward is a young up and coming 28-year-old Soca artiste who has been performing on the local circuit for the last three years. A Soldier of 10 years’ service by day and Soca artiste by night, he is already known for his popular song “Friend Zone” released in 2018. He is the sole writer of all hissongs and has collaborated with several other artiste to write their songs as well. Dario has made guest appearances in the All Stars Tent, Gladiators Tent and several other crop over events. This season he is looking to release his latest two songs as his contribution to the festival. Mr. Dario Ward aka “Sandman”.

ONEIKONN We are an identical twin from Barbados who formed the musical group, ONEIKONN. We both come from an entertainment and modelling background and pride ourselves on being determined and humble.

/oneikonn

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STEPHAN HOPE Stephan Hope, originally from Rose Hill in St. Peter was born August 26th, 1990.

He is a former student of The Parkinson Memorial Secondary and his musical influences stem from many singers including his mother, who was a karaoke DJ. He went on to compete in the Richard Stoute Teen Talent Competition where he Placed third. Stephan has also written several original songs for various artists including 2018 ‘Pic Of De Crop’ winner, Anderson ‘Blood’ Armstrong.

DANIKA HAYNES

/Mia Terise Haynes

Danika Haynes

I am Danika Haynes, a 26-year-old certified esthetician who enjoys making people feel fully rejuvenated. I love to sing, dance, model, write poems, listen to music and read. I am also a follower of Christ and my fellowship is Rhema Apostolic Deliverance Ministries International.

As a former runway model and pageant queen, I have done various fashion shows and I hold the title of Barbados Amateur model search winner which afforded me the opportunity to travel to four Caribbean countries to represent my beautiful island in other pageants where singing was my talent. I was also the winner of the Samuel Jackman Prescot Polytechnic Pageant in 2011 and in 2018 the sandals pageant. Lastly, I have competed in the Richard Stout competition over 3 years making it to the finals in each and placing third in the final year. I am grateful to have had such opportunities because I can say they helped mold and build me up to be this confident lady that I am today.

AIDAN Nadia ‘Aidan’ Holmes is a twenty-six-year-old Barbadian singer, dancer and actress. Releasing her first crop over single ‘Life Nice’ in 2017, this signaled the beginning of her career as an artiste. Following this release, Nadia has engaged in collaborations with other local artiste, while releasing other singles in the Soca and R&B genre. This triple threat is dedicated to igniting a flame in the hearts of people around the world through her music and stage performance.

Nadia Holmes

Aidanmusiq

jabari Browne Equipped with an Associate Degree in Mass Communication from the Barbados Community College Twenty-two-year-old Jabari Browne is absolutely in love with Musical Theatre. Since he joined Operation Triple Threat in 2014, he has grown more and more in love with singing, dancing and acting. He comes from a long line of singers in his family that are well known throughout the island of Barbados such as Carlyn, James and Ricardo Leacock. Jabari’s sister is also the very well-known local Soca singing sensation Nikita. In Jabari’s involvement with Operation Triple Threat, he has done countless performances as well as three officially licensed Broadway musicals with the group. Jabari has shared the stage with local Barbadian legends such as the great Emile Straker and David Kirton, just to name a few. He aspires to perform on stage, screen and in studio and he hopes one day to be an astonishing Broadway performer and overall unique artist.

www.bcsi.org.bb

Nand Persaud International Communications Inc. is a Contact and Business Process Outsourcing solutions Center located in Guyana, South America. Established in 2002, they are the first Guyanese-owned and operated near-shore contact centre that boasts a wide portfolio of international clients, primarily in North America and Europe.

NPIC (as they are known) has over seventeen years of experience providing an outstanding quality of service to clients. They offer; customer support services, transcription services, quality assurance services, data entry, research and

are no strangers to success, as they have won several awards since their establishment. NPIC, in particular, has bagged the Quality Recognition Award from Reed Business Information in 2006, the Call Center Quality Award from Reed Business Information in 2006 and the Excellence in Services Exports from the Caribbean Export Agency in 2016. In 2016, NPIC received the President’s Award from Guyana Manufacturing and Services Association for their contribution towards the environmental footprint. Fun fact: Nand Persaud International Communications Inc. is 100% SOLAR POWERED!

leads generation, PBX solutions and software development

How did NPI begin to market its services outside of the borders of Guyana?Â

services.

For us, networking is key. We began by getting involved with

gathering services, inbound/outbound telemarketing service,

Nearshore Americas, an organization that helps to market Their commitment to excellence has caused NPIC to gain a

companies located close to the US. We were even a part of a

strong reputation for quality, which has differentiated them

tour they hosted in Guyana in 2013.

from the competition, and has been critical in their success.

NPIC and their parent company, The Nand Persaud Group,

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- What strategies were employed in this process?

Just keeping it simple and really understand the needs of each client. This is so important.

- What problems, if any, were encountered?

Not in the conventional sense. Our problem arose as we became more aware of the negative, long term effects of greenhouse emissions. We wanted to be more and do more. So we went 100% renewable. Problem solved!

- What advice could you provide to smaller firms looking to take their business overseas?

Get used to hearing ‘no’. At the same time, never stop offering your best.

-What is next up in terms of growth for NPI Communications?

Since our foundation, we have been consistently growing and anticipating clients’ needs while staying ahead of

.

technological advancements. We have ventured off into services like software development and PBX solutions.

We’ll keep doing that - growing.

CONTACT INFO: 1 Tain, Port Mourant, Corentyne, Berbice, Guyana, South America.

Intl: 954-337-1448 Local: 592-337-1563 www.npicommunications.com info@npicommunications.com

FACEBOOK: @npicommunications

INSTAGRAM: @npicommunications.inc

www.bcsi.org.bb

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ADVANCED EDUCATION IN CREATIVE BEAUTY FOR THE CARIBBEAN.

The Creative Makeup & Aesthetics (CMA) Academy is honoured to become the Caribbean’s first and only globally recognised accredited institution dedicated to providing industry standard education to professionals and enthusiasts within the beauty industry. We aim to ensure that all students like yourself are fully equipped, knowledgeable, confident and certified as industry professionals, allowing you access to global occupational opportunities.

CMA Academy was founded and is being developed by experienced and qualified educators/professionals who strongly believe that equal educational opportunities from an accredited beauty focused academy should exist within the Caribbean.

As a professional within such an evolving industry, staying abreast of new techniques, products and technology is vital for growth. Knowledge and experience are powerful tools! Unfortunately, access to such accredited knowledge within the Caribbean region is non-existent.

Knowledge & experience Are powerful tools!

Beauty entrepreneurs are forced to travel internationally, leaving behind their responsibilities for some time. This can be very difficult for most, especially when it comes to financing such lengthy travels. Investing in this is something that is sure to be beneficial to them, however, many are not able to afford it. We felt that equal opportunities should be accessible within the Caribbean to individuals who seek advanced international accredited studies. Out of this the CMA Academy was born.

EDUCATIONAL EXCELLENCE At CMA Academy we offer an educational experience, not only focused on attendance and grades, but on developing a professional who is equipped with the tools to work immediately or become an entrepreneur post graduation. As a student, you will experience unique and diverse teaching methodologies by leading industry experts using current and proven innovative products and technologies ensuring that international industry standards are met.

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www.bcsi.org.bb

Our Masterclasses and Workshops offer unique training experiences with our expert educators. We can build a community to support each other and tailor to the demand of the industry. Our business relationships with brands such as Dermalogica, ToGoSpa, Casmara, IS Clinical, European Body Art among others, have been an awarding and exciting journey thus far, especially working with some of our amazing educators such as Celebrity Medical Aesthetician Celeste Rodrigues and Master Sculptor & Special FX Artist Rashaad Santiago.

Our educational foundation is based around the importance of healthy skin; therefore, a sound knowledge of skin and human anatomy is mandatory. Our Aesthetics department will feature Masters, Medical, Clinical and Laser Technician programs, whilst our Creative Makeup Department will feature advanced programs in Character/Cosplay, Digital FX, Body-Art, Film and Editorial Beauty. Finally, business and marketing modules are individually designed for our graduates during internship to aide in their success. ​The CMA team is super excited for the future, as we welcome you no matter your race, gender, age or skill level!

So what are you waiting for #BrainyBeauties?

.

An amazing beauty career awaits you at CMA ACADEMY.

CMA Academy – Creative Makeup & Aesthetics Academy W: www.cmaacademy-edu.com E: info@cmaacademy-edu.com T: 246.265.6340 IG: @camacademy

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Relax Rejuvenate. Enjoy Life

Sweetfield Manor is a luxury boutique hotel sitting on a

.

Corporate

Whatever you are planning, Sweetfield Manor, so ideally

ridge overlooking the historic Garrison Savannah. While the

located close to Bridgetown as well as the bustling south coast

amenities of the South Coast are in close proximity, Sweetfield

of Barbados, is an amazing and unique venue for your next

Manor is truly a hidden gem. Once on the property a sense of

corporate event. We can organise any event with the perfect

calm and peace fills your soul. You are tucked away in these

mix of business and fun to help you entertain business clients

private grounds, your own cocoon. By the time you leave us,

or treat your staff.

you will be transformed.

For business people, a change of scenery and a couple of The property offers 10 comfortable, well-appointed

exciting group activities can really help to keep your team on

guestrooms, each of which are uniquely charming and all

track, focused, happy and working together.

within well-kept grounds. The rooms are distributed between the historic manor house (circa 1900’s) and the outer buildings, some of which served as stables at the turn of the last century.

Spacious patios are available with several rooms to allow enjoyment of the West Indies outdoors from your own private space. Room amenities and services are all designed to make your stay with us truly memorable

www.bcsi.org.bb

Retreats

Fine Dining

happen. There you’ll find the perfect space for small,

trees nestled in our Courtyard fine dining restaurant,

intimate corporate retreats. Escape the hustle and bustle

PAVAO and enjoy the tantalizing international cuisine

of the office to a relaxing, laid-back environment. Unwind,

prepared by award winning Master Chef and his culinary

team build and leave the stress of work behind for a while.

team!

The team at Sweetfield Manor can help make that

Grab your most deserving team for the perfect mix of business and fun. Exciting team-building exercises to boost team productivity and encourage creative thinking.

There are nooks all over the property that surprise and delight yet seem so natural. Sweetfield Manor is understated elegance and charm.

You can watch the brilliantly coloured Japanese koi swimming lazily in their pond while you sit on a veritable floating island or lounge by the lagoon pool – the design is beautiful with a simplicity to its layout. Surrounded by banana suckers and tropical foliage that attract the hummingbirds, one can sit for hours enjoying nature at its best. Peacocks roam the grounds and, whilst unique and majestic, they seem to just belong.

Dine in a romantic setting under centuries old mahogany

.

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in-house news

41

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Memorandum of Understanding with The Barbados ManufacturERS’ Association

On Wednesday March 20th, 2019 at the Annual General Meeting of the Barbados Manufacturers’ Association (BMA), Wendell Cumberbatch, President on the Board of Directors of the Barbados Coalition of Service Industries (BCSI) and Robert Noel, President of the BMA,

signed

a

Memorandum

of

Understanding (MOU) to, among other things, collaborate on the production of a Cultural Village for BMEX 2019 to be held on June 7-10th at the LESC. Under the theme “Rebirth of Pride and Industry” the showcase will be branded as the Firefly Creative Village.

The official signing of this MOU came after

many

strategic

discussions

between the BCSI and the BMA and is designed to provide a framework for active collaboration between the parties to secure increased domestic value added amongst Barbadian enterprises.

The MOU, which is at the will of both parties, became effective upon its signature and unless modified or terminated will expire on March 20th, 2021. This new partnership is sure to foster collaborative cross sector linkages between the manufacturing and services sector, which jointly accounts for approximately 99% of Barbados’ Gross Domestic Product (GDP).

Emerging from this MOU, a joint committee will be formed and is expected to meet at least once every twelve (12) months to evaluate and report on progress made.

The BCSI is very excited to continue to build on this partnership and in

.

turn continue to develop and promote business enterprise especially among young entrepreneurs in Barbados.

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IDEAS DESIGN STRATEGY on the wings of imagination

Are you looking for a graphic designer? Do you need a creative consultant? Why settle for less when you can have more?

With the Take Flight pricing strategy and our nimble team at IDS, you can enjoy the benefits of an entire digital media, marketing and design agency for the cost of hiring a full time designer.*

let’s start your next

project.

1 (246)

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The Firefly Creative Village

As part of our annual activities supporting the growth of Barbados’ services sector, the Barbados Coalition of Service Industries (BCSI) launched Services Weekend Barbados (SWB) in 2016.

One weekend in the month of November dedicated to the promotion of services, the BCSI hosts a series of events aimed at the upliftment of the Sector. The weekend concludes with the Firefly production, a highly sought-after cultural showcase for entrepreneurs who are eager for a space which allows them to network and display their talents. Over the past three years, Firefly has evolved into a creative space where likeminded entrepreneurs showcase to the public a range of services from music, to art, to fashion and everything in between. Last year’s Firefly took it a step further and welcomed regional participants for the first time.

This was a significant opportunity for regional designers and performing artists to expand their clientele beyond their local borders, a requirement that is becoming more necessary for young business owners if they are to grow and succeed in business.

Continuously evolving, Firefly is now moving to the stage of BMEX 2019 as a replacement to the annual fashion show. The BCSI is collaborating with the Barbados Manufacturing Association (BMA) to produce the rebranded Firefly Creative Village for this exhibition.

BCSI

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What to expect when you visit the Firefly Creative Village?

Pre-BMEX Workshop for entrepreneurs: For participants to be as fully prepared as necessary for a large-scale event such as BMEX which welcomes around 18’000 patrons throughout the weekend, it is necessary that a workshop be carried out prior to the event. This workshop will be themed “Getting Ready for BMEX” and will focus more on the business mind of entrepreneurs. A special emphasis will be placed on the presentation and business skills of participants when dealing with their customers. This step is critical in ensuring not only the development of their skills set but, on their business, ensuring their longevity.

Creative Arts Exhibition: At the Firefly Creative Village, patrons should come expecting live podcasts, live art, mixology competitions, musical performances and of course fashion shows. At this creative arts exhibition, the BCSI is aiming to fully include creatives from across all sectors and giving them the opportunity to take their businesses to the next level.

Pop up shopping: Of course, there will be lots of opportunity for the public to support local business owners by purchasing the products and services of those participating in the pop-up shop.

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The BCSI is excited to bring to the BMEX 2019 stage a high level artistic and creative performances that have become synonymous with our Firefly brand.

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PRIVATE SECTOR PERSPECTIVES ON the New economy

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A PRIVATE SECTOR PERSPECTIVE ON the new economy

There can be little doubt that Barbados is now a service-based economy.

Gone are the glory days of sugar, the backbone of the economy for centuries. With production down to a mere 10% of what it was at its peak, the price of sugar has now reached rock bottom. Instead our economy now depends on two major service sectors for its foreign exchange earnings; tourism and international business.

We have transitioned from a protected economy to an open one, where we compete directly on the global market. Globalisation, together with the development of information and communication technology (ICT), have created a huge market for us because of the comparative ease with which the market can be accessed.

The downside, of course, is that we also now face greater competition from all corners of the world, not only in the international business market but also in respect to our own indigenous industries like manufacturing. In addition to this, events on the world stage can have an instant impact on our economy but

Chris deCaires Chairman of the Barbados Entrepreneurship Foundation

especially on sectors like tourism and international business which are extremely vulnerable to external shocks.

We are now living in a more connected world and one that carries more inherent

contributor profile Chris Decaires is chairman of the Barbados Entrepreneurship Foundation and serves on the board of CIBC First Caribbean International Bank and Banks Holdings Ltd. He is Managing Director of Fednav International Ltd, an international shipping group, and previously worked with Interamericana Trading Corporation, PricewaterhouseCoopers and the Barbados Light & Power Company.

risks. We need to embrace this new reality and respond to the challenges enthusiastically. Our history suggests that we have been able to “punch above our weight”. Unfortunately, it is a reputation that is fading from memory but one to which we must return. Though small in physical size and numbers, we must recognize that we can still achieve world-class performance.

The future development of our society and our economy depends on expanding and improving the services we provide, both locally and to the international markets. We need to improve the quality of our services, the range of services we provide and the cost of providing those services. I believe our ability to achieve success depends on two key factors that we need to improve to become “world class”.

• The first is the more important and probably the more difficult task to achieve, is that of orienting our culture towards one that is more enterprising. Our long history of colonial direction has fostered an autocratic management style which stifles creativity and innovation and uses fear as a motivator to perform. There’s a need to replace this approach with a performance culture that recognizes innovation,

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...these tasks require a change in our behaviour that will not come naturally to the majority. challenges existing ideas and is respectful to all, irrespective of status.

• The second task requires us to adopt a management system that i) sets specific performance targets, ii) measures the actual results and iii) provides accountability on performance. There’s no magic in this and any basic management book will be able to provide guidelines on getting this done. The difficulty lies in the results that are produced and our inability to deal with its consequences.

To implement these tasks will require a change in behaviour that does not come naturally to the majority. As a result, it will require strong leadership to make the change. In this regard we can take great comfort that our Prime Minister and Government have set the tone for the future governance of the country which emphasises innovation, technology, openness, transparency and inclusiveness.

The dynamic implementation that we have seen over the first ten months of the new Government suggests that they ae serious in making this a reality.

It is now up to the private sector and the rest of the society to follow suit and start to implement the changes that will make our organisations perform to a global standard. We need to encourage more innovation and be prepared to expand into areas that we have not done before. “The difficulty is not so much in developing new ideas as in escaping from old ones.” – John Maynard Keynes.

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MEMBERS’ CORNER

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Fish Bowl conversation series The BCSI hosted the first part of the new Fish Bowl Conversation Series in February 2019 at the Secretariat. We welcomed 30 Entrepreneurs and Business Professionals to participate in an engaging session led by special guest speaker, Ms. Sally Ann Bharat, Executive Director of the John Maxwell Team who spent the latter part of her career assisting a wide range of businesses and individuals to manage change and develop effective leadership skills.

The session explored the theme “Conscious Capitalism” and had a few aims: · To build capacity and sensitize participants of the activities that will assist in the creation of productive-minded entrepreneurs for their businesses; · To sensitize entrepreneurs about the school of thought of the benefits of conscious capitalism; · To promote the importance of conscious leadership which leads to more fulfilling work environments and increased productivity; · To provide a space for entrepreneurs to network, share ideas and brainstorm.

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¡ To provide participants with guidance on creating business vision boards.

Conscious Capitalism is described as ‘a way of thinking about capitalism and business that better reflects where we are in the human journey, the state of our world today, and the innate potential of business to make a positive impact on the world.� (consiouscapitalism.org) The session was designed to show entrepreneurs how to align their business to a higher purpose beyond income generation and profits. Becoming more socially conscious creates a clear purpose for the business and breeds an environment that seeks to benefit all stakeholders.

Participants were able to communicate and network freely within this space as they discussed both the short- and long-term goals for their businesses and were also able to create a vision board for their respective enterprises to assist with guidance and direction for the future.

The Fishbowl Conversation series was conceptualized as a part of our Membership Revitalization Programme (MRP). The Secretariat plans to host other related entrepreneurship-focused events geared towards enhancing business within the services sector.

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Benefits of the EPA

There are a number of opportunities available under the Economic Partnership Agreement (EPA), but a challenge has always existed as it relates to the handling of service providers. The services regime in the EPA is the first of its kind; but the mechanisms to facilitate trade across all four modes of supply have not been implemented fully. As part of our push in the CARICOM Forum-European Union (CF-EU) EPA Consultative Committee we had given our support and lobbied for greater emphasis to be placed on Trade in Services. This has led to an agreement for the establishment of a sub-committee on Services at the level of the EPA Trade and Development Committee. We were also pushing for a working group with a mix of government and private sector representatives, but the approval was given for the traditional structure to be put in place. Much of the work on the EPA facilitated export promotion related to the architects and engineers under Mode four, but there may be a fine line between actual Trade in Services and labor migration between these professions.

One of our greatest challenges remains the access to information from service

Mr. Dav-Ernan Kowlessar Head of Secretariat Caribbean Association of Industry & Commerce

suppliers; both in terms of breaches from Member States and as well trade statistics. It is easier to obtain measurements for trade in goods and services of large organisations. There are many SMEs engaged in export of their services, but they are not necessarily captured in the larger data set.

contributor profile Mr. Dav-Ernan Kowlessar is the Head of the Secretariat of the Caribbean Association of Industry and Commerce (CAIC). He also serves as the current Secretary on the Board of the Directors of the Association.

Dav-Ernan is a Management Consultant by profession working on projects for corporate firms and institutions on economic and business development.

As a business owner and corporate manager, he has worked in the service and manufacturing sectors in Trinidad and Tobago and the wider Caribbean.

Dav-Ernan’s exposure has led to a CAIC driven to educate, promote and integrate into the private sector the UN Sustainable Development Goals in strategising to achieve economic and social development in the Caribbean.

How will BREXIT have an impact on us and on the Cotonou Agreement and what are the plans for the way forward after its expiration?

Given that CARICOM has already signed a Trade Agreement with the United Kingdom, there may not be much of an impact of BREXIT given that the Agreements were based on the CF-EU EPA. Although it must be noted that the new Agreements were said to have taken account of any changes to the initial 2018 Agreement. The next evaluation of the CF-EU EPA is due by 2020 and many of the short-comings of the Agreement would still be inherent in the CF-UK Agreement. So it just means a division of the challenges between markets; unless the UK would be willing as a smaller market than the EU, to facilitate the implementation of the Trade in Services mechanisms that are necessary to improve real trade in services access; and this also includes access under Mode three (commercial presence). For example, we would like to see the day when there is a large indigenous Caribbean hotel chain in the EU/UK.

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FEEL DE RIDDIM Riddim Tribe is arguably one of Barbados’ most notable dance groups. From appearing on internationally syndicated television programs like The Wendy Williams Show and more recently, their live performance with the Brooklynettes, the talented dance group is no stranger to the spotlight.

1) Give us a bit of background on Riddim Tribe.

Reintroduced as Riddim Tribe, the dance collective is the brainchild of multiple award-winning dancer and choreographer Aisha Comissiong. Riddim Tribe consists of a group of individuals who share similar aspirations of which dance and all its associated commercial applications such as entertainment, advertising, fitness and cultural productions are at the very core.

The group prides itself in being a collective that seeks to collaborate and build a network with like-minded creative individuals united in the mission to promote, develop, expose and empower innovative Barbadian and Caribbean citizens.

An important aspect of Riddim Tribe’s mission is to utilize the art form of dance to educate. The group is known for executing projects that

the group has also made an appearance on American day-time TV show - The Wendy Williams Show

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play a vital role in enriching the learning and educational experiences of the wider community. They do so by effectively and creatively using dance photography, videography and their social media platforms to illustrate and share important and empowering lessons about our history and culture.

With a reputation for presenting themselves at a very high standard, Riddim Tribe has been seen digitally and on stage with well-known names such as Nikita, Lil’ Rick, Fadda Fox, King Bubba, Peter Ram, 1688 Orchestra Collective, Voice, Lyrikal, Skinny Fabulous, Farmer Nappy, Nigerian mega-star Davido, and world-renowned saxophonist Arturo Tappin, just to mention a few. In association with the Barbados Tourism Marketing Inc., the group has also made an appearance on American daytime TV show - The Wendy Williams Show.

2) How did the opportunities to share your talents beyond the shores of Barbados become a reality for your group?

In its short lifespan, Riddim Tribe has landed a number of over-seas gigs that may be attributed to the group’s very strong presence of high-quality work on social media, coupled with the solid dance resumes and profiles of the dancers in the group.

3) What is the general response you guys receive when performing outside of Barbados as opposed to here?

Riddim Tribe as well as the dancers who have been able to travel individually to share their talents have always been well-received both at home and abroad. In fact, it’s always great to see how much Barbadians root for us especially when we are representing our nation abroad.

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4) Have those opportunities allowed you to gain increased recognition?

Indeed. Earning and being granted opportunities to share our talents abroad has given us a certain degree of credibility and increased recognition.

5) In your opinion, what more can be done to assist the development of young creatives here in Barbados?

It is evident that the relevant local authorities have the power to create opportunities and open doors for young creatives in numerous ways as it relates to development, exposure, promotion and exportation of products/talent. Therefore, I believe a more concerted effort by these organizations to lay a foundation that fosters greater collaboration, exchanges and investment in the talent pool of Barbados is imperative.

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DON’t Miss the creative village at bmex, june 7 to 10, 2019

for more information visit wwww.bcsi.org.bb

BUILDING BUSINESSES. SUPPORTING SERVICES. EXPORTING EXCELLENCE.

Barbados coalition of service industries (bCSI) Building #3 Unit 2B Harbour industrial estate Tel: 1 (246) 429-5357 Fax: 1 (246) 429-5352 Email: info@bcsi.org.bb www.bcsi.org.bb